UBS Adjusts Price Target & Estimates on Martin Midstream Partners (MMLP); Keeping Our Eyes On...
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Price: $46.20 +0.79%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade MMLP Now!
UBS maintains a 'Neutral' on Martin Midstream Partners (NASDAQ: MMLP) price target of $33.00 (from $36.00).
Analyst, Ronald J. Barone, said, "We rate Martin Midstream Neutral given our forecast for sub-1.0x distribution coverage in 2H12 and a distribution that has only been raised LSD over the past 4 years. That said, we will be watching 2H closely given potentially increasing capex and some unique assets in the MMLP portfolio (especially its Terminaling and Sulfur segments). We also view the recently closed sale of its Nat Gas G&P unit as a positive that should strengthen the MMLP balance sheet while increasing the visibility of future cash flows given that unit’s more commodity-exposed nature."
FY12 EPS estimate slashed from $1.61 to $1.14, but FY13 raised from $1.60 to $1.63.
For an analyst ratings summary and ratings history on Martin Midstream Partners click here. For more ratings news on Martin Midstream Partners click here.
Shares of Martin Midstream Partners closed at $33.92 yesterday, with a 52 week range of $28.01-$37.91.
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Analyst, Ronald J. Barone, said, "We rate Martin Midstream Neutral given our forecast for sub-1.0x distribution coverage in 2H12 and a distribution that has only been raised LSD over the past 4 years. That said, we will be watching 2H closely given potentially increasing capex and some unique assets in the MMLP portfolio (especially its Terminaling and Sulfur segments). We also view the recently closed sale of its Nat Gas G&P unit as a positive that should strengthen the MMLP balance sheet while increasing the visibility of future cash flows given that unit’s more commodity-exposed nature."
FY12 EPS estimate slashed from $1.61 to $1.14, but FY13 raised from $1.60 to $1.63.
For an analyst ratings summary and ratings history on Martin Midstream Partners click here. For more ratings news on Martin Midstream Partners click here.
Shares of Martin Midstream Partners closed at $33.92 yesterday, with a 52 week range of $28.01-$37.91.
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